记者7月4日从福建省科技厅获悉，该厅日前发布通知，正式启动2025年国家重大科技项目和国家级科技 创新平台奖补资金的申报工作，相关项目及平台最高可获千万元奖励。此举旨在激励福建省创新主体加 快融入国家重大战略布局，推动福建科技创新主体积极承担国家级项目、创建科技创新平台，进而提升 区域科技创新实力。 在奖补标准方面，国家重大科技项目将按牵头企业获国拨经费实际到账金额1∶1比例奖补；国家级科技 创新平台中，全国重点实验室、国家技术创新中心等给予一次性1000万元奖励；国家"一带一路"联合实 验室、国家临床医学研究中心等给予一次性500万元奖励；国家野外科学观测研究站等给予一次性300万 元奖励。（ 记者谢开飞 通讯员高凌） 福建省科技厅相关负责人介绍，申报国家级科技创新平台奖补的，要求平台建设的牵头承担单位须在福 建省内注册，具有独立法人资格，原则上须经福建省科技厅推荐，且已获得科技部批复建设（重组入 列）。中央在福建的企事业单位牵头建设的国家级科技创新平台纳入奖补范围。 据介绍，国家重大科技项目奖补面向2023年度申报并获得福建省奖补资金，且在上一轮奖补申报截止日 （2023年12月25日）至本轮奖补申报截止 ...

Core Viewpoint - The emphasis on cultivating an innovation culture is crucial for enhancing the capabilities of the International Science and Technology Innovation Center, which has shown significant progress over the past year [1][2]. Group 1: Functions of the Innovation Centers - The innovation centers possess four main functions: scientific research, technological innovation, industrial driving, and cultural leadership [3]. - The institutional environment has been continuously optimized, with reforms in Beijing and Shanghai breaking down deep-seated systemic barriers, reflecting the spirit of innovation from traditional Chinese culture [3]. - The vitality of various entities has been stimulated, with new collaborative mechanisms being established, such as the "enterprise proposes, government supports" model in Beijing, which has led to the formation of 27 innovation consortia [4]. Group 2: Cultural and Ethical Foundations - The deep-seated motivation for building innovation centers stems from the spirit of scientists and the pursuit of excellence, with a focus on promoting values such as patriotism, innovation, and collaboration [4]. - The establishment of the National Science and Technology Ethics Committee has accelerated the construction of a governance system for scientific ethics within the innovation centers [4]. Group 3: Future Directions - To foster a more vibrant and resilient innovation culture, there is a need to deepen institutional openness and create a global innovation cultural hub [6]. - Mechanisms to support risk-sharing and the establishment of government-led special funds for high-risk exploratory fields are essential for nurturing a culture that tolerates failure [7]. - Emphasis on youth talent development is critical, with initiatives aimed at enhancing basic education and promoting interdisciplinary learning to cultivate innovative capabilities among young people [9].

Group 1: Industrial and Technological Innovation - Yangzhou aims to achieve over 900 billion yuan in industrial sales and over 2500 high-tech enterprises by 2024, with a GDP growth of 6% year-on-year, surpassing the provincial average [2] - The city is focused on creating a modern industrial system and has established a leadership group for industrial innovation, implementing local regulations to promote technological advancement [2] - Yangzhou is targeting the establishment of more provincial laboratories and innovation centers to enhance collaboration between enterprises and research institutions [2] Group 2: Cultural and Tourism Development - Yangzhou leverages its rich cultural heritage, including a 2500-year history, to enhance tourism, with initiatives like the "Grand Canal Cultural Heritage Protection Regulations" [4] - The city has developed various cultural tourism projects, including immersive museums and themed parks, and has hosted over 1000 cultural events in 2024, attracting 119 million visitors, a nearly 20% increase year-on-year [5] - Yangzhou is recognized as a model city for integrating traditional culture with modern development, receiving multiple accolades for its tourism appeal [5] Group 3: Ecological and Livable City Initiatives - Yangzhou is committed to ecological development, with 30% of its area covered by water bodies and a high natural wetland protection rate of 71.5% [7] - The city has implemented comprehensive environmental strategies, including the "One Lake One Policy" approach, to enhance ecological safety and improve urban aesthetics [7] - Yangzhou focuses on improving the quality of life for its residents through various social welfare initiatives, including the establishment of child-friendly streets and senior care communities [8]

Core Viewpoint - The A-share market shows resilience with the Shanghai Composite Index reaching a new high for the year, indicating increased market confidence among major private equity firms [1] Group 1: Market Outlook - Major private equity firms express positive expectations for the overall market direction in the second half of the year, highlighting two key trends: a recovery in market trading sentiment and increased differentiation among enterprises, leading to a focus on scarce growth assets [2] - The Hong Kong stock market is entering a new phase with international capital gradually entering, supported by strong competitiveness and resilience in Chinese manufacturing and trade [2] - The liquidity in both mainland and Hong Kong markets is abundant, with a notable divergence between short-term interest rates of the Hong Kong dollar and the US dollar, suggesting limited downside risk for the market [2][3] Group 2: Investment Strategies - The current market environment is conducive to bottom-up stock selection, with a focus on high-quality companies that have shown resilience during economic cycles [4] - Investment strategies should consider the structural bull market atmosphere, with significant opportunities for sector rotation and mean reversion, emphasizing the importance of matching valuation with fundamentals [4][5] - The technology and innovation sectors are expected to experience increased internal differentiation, while sectors like renewable energy and traditional food and beverage companies may present mean reversion opportunities [5] Group 3: Specific Investment Opportunities - Major private equity firms are focusing on specific investment themes, including AI-driven entertainment platforms, advanced chip manufacturers, and companies with strong supply chain and brand capabilities [6][7] - Emerging growth assets remain a focal point, with a particular interest in sectors benefiting from technological iterations and brand upgrades, such as the AI industry chain and high-end manufacturing [8] - The potential for significant upside exists for leading companies with cyclical growth attributes, especially if the macroeconomic environment continues to improve [8]

宏观 证券研究报告 |深度研究报告 2025/7/4 财政发力线索探析 财政政策力度进阶，从"适度加力"到"更加给力"。面对更趋严峻复杂的内外环境，2025年财政政策定调"持续用力、 更加给力"，较2024年"适度加力、提质增效"更为积极，强化逆周期调节以稳定经济基本盘。具体措施包括：显著提 升支出强度与进度（预算赤字率创新高，政府债券规模扩张），优化支出结构（重点倾斜民生、消费和新质生产力）， 并持续化解地方债务、房地产及金融等重点领域风险，确保财政可持续性。 债务工具扩容提质，规模用途双向拓展。2025年政府债务工具规模与用途双扩容。特别国债方面：新增国有大行资本补 充专项，超长期特别国债规模显著增加，重点投向国家战略安全、设备更新（支持领域拓宽及补贴标准提升）和消费品 以旧换新（新增数码补贴并优化机制）。专项债限额明显提升，改革实施"负面清单"管理，扩大使用范围（允许土地 储备、存量房转保障房等），资本金支持范围新增新兴产业且比例上限提高，审核流程简化（试点省份"自审自发"）。 执行层面，1-5月新增专项债发行进度平缓但快于去年同期，募集资金主要投向基建相关，土储较去年获更多资金倾斜； 化债资金高效落地 ...

Core Viewpoint - The implementation of the "1+6" policy for the Sci-Tech Innovation Board (STAR Market) aims to enhance the capital market ecosystem to better support technological innovation, with significant engagement from leading equity investment institutions [1][2]. Group 1: Policy Impact - The "1+6" policy has revitalized equity investment institutions, boosting their confidence and encouraging technology entrepreneurs, thereby promoting a virtuous cycle of "technology-industry-capital" [1]. - Over 90% of companies listed on the STAR Market received support from equity investment institutions prior to their IPOs, highlighting the critical role these institutions play in the ecosystem [1]. Group 2: Institutional Response - Equity investment institutions expressed strong support for the "1+6" policy, which facilitates the entire lifecycle of investment, from fundraising to exit, and encourages investments in early-stage, small, and hard technology ventures [2]. - Institutions plan to thoroughly understand the "1+6" policy and assist technology companies in comprehensively grasping its measures, indicating a collaborative approach to implementation [2]. Group 3: Future Directions - The Shanghai Stock Exchange (SSE) will enhance communication with equity investment institutions to form a synergy, aiming to better promote and implement the "1+6" policy and support technological innovation and new productive forces [2].

Core Insights - The transformation of "Qin Chuang Yuan Development Co., Ltd." to "Qin Chuang Yuan Technology Innovation Investment Co., Ltd." signals a significant restructuring of the Shaanxi innovation and financial system [1] - The launch of a provincial-level science and technology mother fund with an initial scale of 10 billion yuan marks the comprehensive initiation of the "three reforms" in Shaanxi's technology finance [1][13] - The transfer of shares from Shaanxi Investment Group to Chang'an Huitong Group emphasizes the strengthening of the synergy between state-owned capital operations and technology innovation investments [1][11] Group 1: Regional Innovation and Resources - Shaanxi boasts rich resources from top universities and research institutions, serving as a crucial source for "hard technology" companies [2] - The province ranks high in patent authorizations and technology contract transaction volumes, with a technology activity output level placing it fourth nationally [3] - However, the local conversion rate of technological achievements remains lower compared to developed regions, with only 38% of technology contracts being converted locally [3][4] Group 2: Financial Ecosystem and Investment Strategies - The need for long-term and patient capital is highlighted as essential for enhancing the technology finance ecosystem in Shaanxi [6] - The establishment of a 30 billion yuan "Qin Chuang Yuan Fund Matrix" aims to guide state-owned capital towards early-stage investments in hard technology [13][15] - The new fund will operate alongside existing funds to create a comprehensive investment system covering all stages from seed to acquisition [15] Group 3: Role of State-Owned Capital - Chang'an Huitong, as a state-owned capital operation company, plays a pivotal role in integrating resources and supporting local enterprises [8][11] - The company has previously facilitated the listing of provincial enterprises and has established 19 funds with a total subscription scale of 21.4 billion yuan [9] - The shift in the role of state-owned funds from supplementary to primary investors in the venture capital market reflects the changing dynamics in investment strategies [12] Group 4: Future Directions and Goals - The focus of the Qin Chuang Yuan Company is to bridge the gap between technological supply and industrial demand, aiming to foster local application of scientific achievements [17] - The company plans to utilize its own funds for direct investments in high-growth technology firms and to support mergers and acquisitions [17] - The overarching goal is to cultivate world-class technology enterprises in Shaanxi by selecting projects and making precise investments [17]

来源：环球网 【环球网文化综合报道】7月2日，北京市海淀区光科技馆内，"科创青年 梦想启航"2025香港青年北京 实习体验活动正式启动。这场由中央及地方多部门指导、中关村京港澳青年创新创业中心与中国港澳同 学会联合主办的活动，吸引了200余名香港高校学子报名参与，经过严格筛选，最终60余名同学脱颖而 出。此次活动，旨在搭建京港青年交流桥梁，助力香港青年融入国家科技创新发展大局。 （参会嘉宾合照） 随着"百万青年看祖国""大湾区创未来"等计划的持续推进，京港青年交流已从单一实习向科技、文化、 民生等多领域延伸。此次活动不仅为香港青年提供职业起点，更通过沉浸式体验助其理解国家发展逻 辑。专家表示，青年是连接内地与香港的"活桥梁"，其视野与认同的拓展，将为两地协同创新注入持久 动力。未来，随着更多特色实习项目落地，京港合作有望在青年力量的推动下迈向更高水平。（白泽） 此次活动恰逢香港特区政府力推青年交流与实习计划的浪潮。据香港《星岛日报》报道，2024/2025年 度已有超3.2万名香港青年赴内地及海外交流，实习人数达4800人，较上一年度分别增长39%和65%。特 区政府通过《青年发展蓝图》进一步扩大计划广度，涵 ...

在成都高新区，每月一次的"房屋健康体检"正在进行。将遥感卫星技术运用于房屋安全监测，将传统的单点监测转换为全域感知，破解了成都数万栋建筑 的监测难题，甚至带动相关产业转型，这正是成都开放"创新场景"的目的所在。 今年3月，成都市民营经济发展促进中心挂牌"场景创新促进中心"（以下简称"场景中心"），设立"场景创新部"，系统性开放"城市级"应用场景，帮助科 技成果从实验室走向生产线。日前，该中心场景创新部部长何博接受每日经济新闻采访，讲述了中心"政府投资+场景清单"的场景创新模式。 首创西部"科技篇" 以政府投资撬动企业首单 场景创新，重点在于为新技术新产品找到首试首用和测试验证的机会。 "我们的新技术，不少客户感兴趣，但再往下聊，普遍会问有没有成功案例？"一位成都科创型中小企业负责人的反馈，道出了科技型新产品进入市场的核 心痛点——缺乏"第一个吃螃蟹"的市场验证。 一般而言，科技型新产品虽有某方面的技术创新，但综合考量行业资源、现有解决方案、价格等因素，难以从市场中搏杀出来。 这直接导致，如何帮助新技术新产品获得宝贵的第一笔市场订单，成为场景创新工作的全国性难题。 成都的"解题"思路是，编制政府投资项目"科技篇 ...

Group 1 - The development of the Northern Metropolis is crucial for Hong Kong's social and economic growth, providing over 3,000 hectares of new land to alleviate the bottleneck of insufficient land for industrial development and create approximately 500,000 new jobs [1] - The Northern Metropolis will be a major source of future housing supply in Hong Kong, offering over 500,000 new residential units, addressing long-standing housing issues and creating a green living environment for residents [1] - Four new development areas, including Kwu Tung North/Fanling North, Hung Shui Kiu/Xia Village, Yuen Long South, and San Tin Technological City, are currently under construction, with over 400 hectares of private land recovered and 80 hectares of land being prepared for infrastructure and housing projects [1] Group 2 - The first three buildings in the Hong Kong section of the Lok Ma Chau Loop Innovation and Technology Park are nearing completion, with the first batch of tenants expected to move in during the second half of this year [2] - The Northern Metropolis is projected to yield at least 570 hectares of "ready-to-use" land, around 60,000 residential units, and approximately 1 million square meters of economic floor area over the next five years, with these figures expected to increase significantly in the following decade [2] - The planning phase for the Northern Metropolis is on track, with land use proposals for all new development areas published and technical assessments underway, aiming to complete urban planning procedures within one to two years [3] Group 3 - The focus of the Northern Metropolis development will shift to land acquisition and infrastructure projects once the planning framework is established, with the government primarily responsible for land acquisition and compensation [3] - The successful implementation of industrial projects will require both government policy guidance and market participation, emphasizing the need for effective collaboration between the government and the market [3]